Why Remortgage Now?
‘Mortgage borrowers thinking of locking into current ultra-low rates should act immediately’
Richard Dyson, Personal Finance Editor, Daily Telegraph, 17/08/2013
In this blog, we will give you the information to check what the current standard variable rate is offered by your existing lender. The standard variable rate is the rate you pay once your fixed rate or discount expires.
The data listed below is in alphabetical order, simply match your lender to find their current standard variable rate. Then go to our best buy tables for a snapshot of what is available.
What To Look For When Remortgaging?
- When deciding to remortgage the first step is to work out how much flexibility you require compared to the guarantees offered by a fixed rate. It would not be a good idea to tie into a 5 year fixed rate if you intend to move in two years because of schools.
- The other major factor is the fees charged by your existing lender and your new mortgage provider to remortgage to them. The major cost is the arrangement fee charged by the new lender. This is where Best Buy is of little benefit as they base the guide solely on the rate and do not calculate the total cost of switching.
- Does your current circumstances, income, loans, child care costs, renewable job contract, debt consolidation, match the new lender’s criteria.
- Additional features you might require. Overpayments, offset (good for high rate taxpayers), payment holidays, reducing redemption penalties and being portable.
- The rate offered by the lender is based upon the equity in your property. The more equity, the more security means less risk to the lender means you are offered a better rate. Remortgages are available with just 10% equity.
Our job is to obtain details of your current financial position, discuss what your plans are for the future and recommend a lender and mortgage product that matches your individual circumstances. We pride ourselves on offering tailored professional advice.
Contact us today for a free no obligation initial discussion or meeting
The rates shown are for residential lending.
|Abbey (Santander) Existing||4.74%|
|Accord Mortgages Existing||5.99%|
|Alliance & Leicester Existing||4.99%|
|Allied Irish Bank (GB) Existing||4.24%|
|Amber Homeloans Ltd Existing||4.95%|
|Astra Mortgages Existing||5.35%|
|Bank of Ireland Mortgages Existing||4.49%|
|Bank of Scotland Mortgages Existing||4.95%|
|Bath Investment & Building Society Existing||5.29%|
|BM Solutions Existing||4.84%|
|Bradford & Bingley Existing||4.59%|
|Bristol & West Mortgages Existing||4.49%|
|Buckinghamshire Building Society Existing||5.24%|
|Cambridge Building Society Existing||4.99%|
|Chelsea Building Society Existing||5.79%|
|Cheltenham & Gloucester New||3.99%|
|Cheltenham & Gloucester Existing||2.50%|
|Chesham Building Society Existing||6.45%|
|Cheshire Building Society Existing||2.50%|
|CHL Mortgages Existing||7.25%|
|Chorley & District Building Society Existing||5.49%|
|Clydesdale Bank Existing||4.95%|
|Coventry Building Society Existing||4.74%|
|Darlington Building Society Existing||5.95%|
|Direct Line Existing||2.00%|
|Dudley Building Society Existing||4.99%|
|Dunfermline Building Society Existing||5.19%|
|Earl Shilton Existing||4.95%|
|First Direct Existing||3.69%|
|Giraffe Money Existing||2.99%|
|GMAC – RFC Existing||5.75%|
|Godiva Mortgages Existing||4.74%|
|Hanley Economic Building Society Existing||5.19%|
|Harpenden Building Society Existing||4.19%|
|Heritable Bank Existing||4.99%|
|Hinckley & Rugby Building Society Existing||5.64%|
|Holmesdale Building Society Existing||4.89%|
|ING Direct Existing||3.99%|
|Ipswich Building Society Existing||5.49%|
|Kent Reliance Banking Services Existing||6.08%|
|Leeds Building Society Existing||5.69%|
|Leek United Existing||5.19%|
|Lloyds TSB Scotland Existing||2.50%|
|Lloyds TSB Scotland New||3.99%|
|Manchester Building Society Existing||5.49%|
|Market Harborough Building Society Existing||5.49%|
|Melton Mowbray Existing||4.99%|
|Monmouthshire Building Society Existing||4.99%|
|National Counties Building Society Existing||4.69%|
|Nationwide Building Society New||3.99%|
|Nationwide Building Society Existing||2.50%|
|NatWest Int Sols BTL Existing||4.50%|
|NatWest Int Sols Existing||4.00%|
|Newbury Building Society Existing||4.45%|
|Newcastle Building Society Existing||5.99%|
|Northern Bank Ltd Existing||4.35%|
|Northern Rock Existing||4.79%|
|Norwich & Peterborough B.Soc. Existing||5.35%|
|Nottingham Building Society Existing||5.99%|
|Paragon Mortgages Existing||4.60%|
|Principality Building Society Existing||4.99%|
|Progressive Building Society Existing||4.75%|
|Royal Bank of Scotland Existing||4.00%|
|Saffron Building Society Existing||5.39%|
|Scarborough Building Society Existing||4.95%|
|Scottish Building Society Existing||5.29%|
|Scottish Widows Bank Existing||3.99%|
|Shepshed Building Society Existing||5.99%|
|Skipton Building Society Existing||4.95%|
|Stafford Railway Existing||3.49%|
|Standard Life Bank Existing||4.99%|
|Stroud & Swindon Building Society Existing||5.99%|
|Teachers Building Society Existing||4.99%|
|The Co-operative Bank Existing||4.74%|
|The Mortgage Works Existing||4.99%|
|The One account Existing||4.00%|
|Tipton & Coseley Existing||4.99%|
|Ulster Bank (NI) Existing||4.00%|
|West Bromwich Building Society Existing||5.84%|
|Woolwich (Barclays) Existing||4.99%|
Correct as at 5th June 2013.
The Rates Shown Are For Residential Lending.
Lending criteria and rates are very fluid and can change daily.
Why Use Neil Soundy Financial Services For Your Mortgage Advice?
- We are experts in SPV / Ltd Co lending.
- Your initial consultation is free with no obligation
How Much Will It Cost Me For Your Advice?
A fee of £495 is payable on completion of the mortgage and Neil Soundy Financial Services Ltd will keep the commission received from the lender for arranging the mortgage.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.